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thank you for joining us. >> thank you. >> sri, your thoughts on the fiscal cliff. you say even if washington comes to a compromise we will see a drag on the economy and markets. why? >> i think we are going up the fiscal mountain now. it doesn't have to be a fiscal canyon. you don't have to have a lack of agreement and falling off the cliff in order for you to have a negative impact on the economy. even if you are coming down a fiscal slope with increase in some of the tax rates, for instance, expiring the payroll tax cuts to expire or minimize taxes to hit some people. high tax residents new york, california may find some of the deductibility of taxes is restricted. all of that is going to have a negative impact on consumption. we have seen the third quarter show that consumption increase is slower than expected. that's going to get accentuated as we go into the new year, which is why i think even if there is an agreement the impact is going to be quite negative. >> jim, you disagree. you call it a mole hill. what do you mean? >> i think it's sold as a cliff as if
thank you for joining us. >> thank you. >> sri, your thoughts on the fiscal cliff. you say even if washington comes to a compromise we will see a drag on the economy and markets. why? >> i think we are going up the fiscal mountain now. it doesn't have to be a fiscal canyon. you don't have to have a lack of agreement and falling off the cliff in order for you to have a negative impact on the economy. even if you are coming down a fiscal slope with increase in some of the tax...
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Dec 1, 2012
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even while the fate of our fragile economy hangs in the fiscal cliff balance, for that let's turn to our distinguished guests. peter goodman. he's the huffington post business editor on a former "new york times"man. we welcome back republican congresswoman nan hayworth and haddy heath, senior policy analyst with the independent women's forum. okay. so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of getting ugly about this enemy's list. we've seen this before from him. my proposal is, republicans have to come with a counter offer. right now. there's no point in blasting obama. just a counter offer. i want to read from today's newspaper. this is what mitch mcconnell said. "higher medicare premiums for the wealthy, an increase in the medicare eligibility age, and a slowing of costs of living increases for programs like social security. and then republicans would agree to include more tax revenue in the deal but not from higher tax rates." now, let's just look at this for a second. we'll go to you first, n
even while the fate of our fragile economy hangs in the fiscal cliff balance, for that let's turn to our distinguished guests. peter goodman. he's the huffington post business editor on a former "new york times"man. we welcome back republican congresswoman nan hayworth and haddy heath, senior policy analyst with the independent women's forum. okay. so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of...
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Dec 6, 2012
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find out what he says about the fiscal cliff, the global economy, holiday sale and more. back in a moment. >>> time to toast today's close with this. 'tis the season for holiday parties. according to a recent survey, a rise in corporate holiday parties typically reflects an improving economy. what percent of the companies surveyed will be hosting a holiday party this year? find out next. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at lea
find out what he says about the fiscal cliff, the global economy, holiday sale and more. back in a moment. >>> time to toast today's close with this. 'tis the season for holiday parties. according to a recent survey, a rise in corporate holiday parties typically reflects an improving economy. what percent of the companies surveyed will be hosting a holiday party this year? find out next. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall...
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Dec 3, 2012
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independent of all this jibber jabber over the fiscal cliff, the economy is in really rough shape now. >> it is. we're seeing businesses cut back, getting ready for the eventuality they see coming, no deal by december 31st this worsening. sam, how do you want to be invested in 2013? where is the growth in the economy coming from, if anywhere? >> i think the growth is coming from an improvement in the housing sector. i think we are starting to see a slowdown in the job loss from the government sector. so, i think we're going to be seeing a better than half speed recovery. so, you do want to be taking a balanced approach. we do favor the consumer discretionary at this point offsetting with health care. >> gentlemen, thank you. more breaking news coming away right now. thanks for your thoughts. appreciate it. >> we have the letter. let's get to eamon javers. >> this is the letter speaker boehner sent to the president of the united states. the language he's choosing is important to understand, as he draes the president. the speaker saying, after a status quo election in which both you and
independent of all this jibber jabber over the fiscal cliff, the economy is in really rough shape now. >> it is. we're seeing businesses cut back, getting ready for the eventuality they see coming, no deal by december 31st this worsening. sam, how do you want to be invested in 2013? where is the growth in the economy coming from, if anywhere? >> i think the growth is coming from an improvement in the housing sector. i think we are starting to see a slowdown in the job loss from the...
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Dec 5, 2012
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. >> that's hard to understand given how much going over the fiscal cliff would hurt the economy. why is going over the fiscal cliff worth it for just this one component? if you can get the other components, why wouldn't you take that? >> good question. thanks for asking. what we're trying to do is put in place a comprehensive balance set of fiscal reforms that put us back on the path to living within our means and create room for investing to make the economy stronger, make sure we're protecting medicare for future generations, and forcing the government to use the taxpayers' resources more wisely. in that context, you have to have a significant amount of revenues. we don't see a way of doing it that makes any sense or has any political viability without rates going up as part of that deal. again, the size of the problem in some sense is so large it can't be solved without rates going up. i think there's a broad recognition of that reality now. if you listen carefully to the talk not just in this town, but you hear what businesses and investors say, i think there's broad recognit
. >> that's hard to understand given how much going over the fiscal cliff would hurt the economy. why is going over the fiscal cliff worth it for just this one component? if you can get the other components, why wouldn't you take that? >> good question. thanks for asking. what we're trying to do is put in place a comprehensive balance set of fiscal reforms that put us back on the path to living within our means and create room for investing to make the economy stronger, make sure...
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Dec 7, 2012
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the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to make this about ed. the fact remains that the debt levels we have in this country in effect put a cap on growth right now. >> sure, sure, sure. i think that economists have been saying for years -- i have said repeatedly, economists on both sides of the aisle have said repeatedly what we need is a long-term plan for deficit reduction that begins to take effect when the economy is closer to its capacity. right now it's at least 6% below its capacity. the unemployment rate, 7.7, it should be like 5.7 at capacity. we should not be doing a lot of deficit reduction right now. we want to sends a credible message to markets that we're serious about deficit reduction, but to put it in place in that brutal way, $600 billion next year, forget it. that's not good economics. >> there is a school of thought that says that we just have to get used to lower job creation, right? tha
the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to make this about ed. the fact remains that the debt levels we have in this country in effect put a cap on growth right now. >> sure, sure, sure. i think that economists have been saying for years -- i have said repeatedly, economists on both sides of the aisle have said repeatedly...
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Nov 29, 2012
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what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market debt. these monetary authorities are done tightening. they fought the inflationary problem that they had successfully. they're in hoed. yield curves could shift down. we stress doing it in local currency. the other areas are u.s. high yield, which i still think is valuable. we do think spreads will contract and emerging market equities as well. >> jordan, what about you? how are you preparing for what could be an eventuality where we go over the cliff and we've got to deal with higher taxes and a slower economy? a lot of people expecting recession in 2013, if, in fact, this occurs. >> think about what works well in a slow-gro
what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market debt. these monetary authorities are done...
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>>> new information about how the fiscal cliff standoff is hitting the economy. the add pressure on washington to reach >>> live look from our vollmer peak cam east bay hills bay bridge there, you can see how chilly it is in spots and you don't see fog. both those conditions are out there. mike will update you on that in a few minutes. >>> in an hour the labor department will release november jobs report analysts the unemployment rate to remain at 7.9%. economists blame everything from sandy to worries over the fiscal i cliff. >> reporter: the fiscal cliff is still three weeks ago the economy may have already taken a hit economists predict the jobs report will show employers added fewer than 100,000 workers in november. superstorm sandy may be part of the reason, worry over the fiscal cliff may have also had an impact. some estimate at least 200,000 fewer jobs have been created this year, due to urn certainty about the fiscal cliff. -- >> reporter: >> the president: it is important we get this done now. >> reporter: in washington republicans and democrats are tal
>>> new information about how the fiscal cliff standoff is hitting the economy. the add pressure on washington to reach >>> live look from our vollmer peak cam east bay hills bay bridge there, you can see how chilly it is in spots and you don't see fog. both those conditions are out there. mike will update you on that in a few minutes. >>> in an hour the labor department will release november jobs report analysts the unemployment rate to remain at 7.9%. economists...
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Dec 1, 2012
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before the fiscal cliff that was a predominant conversation. as i look at it and combine it with fiscal cliff i am pessimistic. the only thing that keeps the economy moving is the effect of wide deficits, monetary policies. i am not feeling that good about it. >> we can string our own story together. we have to admit that in november consumer discretionary was the top performing s&p sector. how do you account for that divergence? people are now getting concerned about the consumer? >> we are getting worried about the consumer in china. we knew the industrial story in china was problematic and the consumer was the good news. now we are worried about the consumer over here despite the fact that housing prices are improving and we are headed to the holiday. dan mentions tiffany. mcdonald's which really hung in there and done well not as well as yum but mcdonald's is faced with problems as far as same store sales and turnover. none of these consumer names, none of them are doing really well. >> to the yum story if we are going to say yum is having
before the fiscal cliff that was a predominant conversation. as i look at it and combine it with fiscal cliff i am pessimistic. the only thing that keeps the economy moving is the effect of wide deficits, monetary policies. i am not feeling that good about it. >> we can string our own story together. we have to admit that in november consumer discretionary was the top performing s&p sector. how do you account for that divergence? people are now getting concerned about the consumer?...
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Nov 29, 2012
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listen, going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester and pave the way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy and protect american jobs and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms it's going to be impossible to address our country's debt crisis and to get our economy going again and to create jobs. so right now, all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president, congressional democrats to tell the american people what spending cuts they're really willing to make. with that, i'll take a few questions sfwl speaker boehner, why will you not tell democrats what specific spending cuts you would like to see, especially within entitlements? >> it's been very clear over the last year and a half, i've ta
listen, going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester and pave the way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy and protect american jobs and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms it's going...
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let's say hypothetically we go off the fiscal cliff because clearly both sides are digging in. here we are at the edge once again like last summer. we go off the fiscal cliff. 2013 comes. we go into recession. doesn't that hit corporate earnings, which, of course, has been the best part of this recovery anywhere? >> there's no question about that. i would contend that the market has probably already factored most of that in. when you can buy a number of stocks -- in the hodges small cap fund, we have a number of stocks trading below their growth rate. that's telling you that the market is not expecting good growth. when you can buy stocks that are growing at 20% a year at ten times earnings, that's a good valuation. there are a number of those situations there that we're seeing left and right. >> got to go, guys. >> okay. >> sorry, jeff. you know how that works. you guys on the website, you get unlimited amount of space. just go on. >> tell me editor. >> i know. >> thanks, guys. see you soon. let's get over to jackie deangelis with a quick market flash. >> hey, there. watching
let's say hypothetically we go off the fiscal cliff because clearly both sides are digging in. here we are at the edge once again like last summer. we go off the fiscal cliff. 2013 comes. we go into recession. doesn't that hit corporate earnings, which, of course, has been the best part of this recovery anywhere? >> there's no question about that. i would contend that the market has probably already factored most of that in. when you can buy a number of stocks -- in the hodges small cap...
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Nov 30, 2012
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economy to fall off the fiscal cliff, 2 million jobs will be lost. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-
economy to fall off the fiscal cliff, 2 million jobs will be lost. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. [ male announcer ] this december, remember -- what starts with adding a friend... ♪...
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Dec 7, 2012
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the fiscal cliff deal is done, uncertainties are removed from the economy and we get 4% or 5% growth rates. maybe the fed's hand would be forced if you had a precipitous drop in the unemployment rate down to 5 1/2% or 6.5% but they're about to do something extraordinary here, right? next week they're going to announce this new thing and they're going to get rid of operation twist and they're going to replace it probably with outright purchases. and it could be that they're buying $85 billion a month in long-term securities. >> okay. where are they getting the money to buy that? >> they're making it. >> they're just printing it. >> not even printing it. you wouldn't have to print it today, it's an electronic thing. they're typing it essentially. >> will the resolution of the fiscal cliff and even some progress on our long-term problems, knowing that at best we're just putting off austerity, sooner or later it's coming, right? higher taxes and lower government spending, right? you combine that with reinhardt, rogoff and the idea we're in a 2% world all of a sudden, would doing the fisc
the fiscal cliff deal is done, uncertainties are removed from the economy and we get 4% or 5% growth rates. maybe the fed's hand would be forced if you had a precipitous drop in the unemployment rate down to 5 1/2% or 6.5% but they're about to do something extraordinary here, right? next week they're going to announce this new thing and they're going to get rid of operation twist and they're going to replace it probably with outright purchases. and it could be that they're buying $85 billion a...
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right to the edge of fiscal cliff. >> he said democrats are slow walking the economy to the fiscal cliff, yet, this is the same republican leadership that has the house in session barely a day. barely a full day this week. >> the fiscal cliff is the term that is given to a set of spending cuts and tax increases that will take effect in january if congress does not act to stop them. >>> investigators are trying to determine what happened before a football fan fell or jumped from the third deck at the oakland coliseum. he fell to the concourse during last night's broncos, raiders game and taken to the hospital with serious injuries. they called it an accident and it remains under investigation. >> the rails are like three to 4 feet. if you don't pay attention, you can fall. he fell yesterday. >> the raiders did issue a statement. the team had no information beyond what authorities are releasing. their thoughts and prayers are with the family and friends. >>> coming up in a few minutes, roger good dell will say where the raiders shall play in the future and who would pay to build a new stad
right to the edge of fiscal cliff. >> he said democrats are slow walking the economy to the fiscal cliff, yet, this is the same republican leadership that has the house in session barely a day. barely a full day this week. >> the fiscal cliff is the term that is given to a set of spending cuts and tax increases that will take effect in january if congress does not act to stop them. >>> investigators are trying to determine what happened before a football fan fell or jumped...
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Dec 7, 2012
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> so we all also from nancy pelosi, the democratic leader in the house of representatives earlier today. she came before cameras also, no news from her had as well. holding pattern here in washington. rhetoric is pretty heated on both sides. you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some indication they'll continue to talk through the weekend so i think what's going on here is you're seeing the public blast of ret lick but behind the scenes they are talking to each other. i think the talks are fair le well coordinated. you can tell that by how tightly the white house and boehner camp on the press side have coordinated their rollouts of what they've said about these talks. they're within minutes of each other, using the same language. that's an indication talks are sort of going along here. it is not an indication we will have a deal any time soon but there's no reason to give up hope just now
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> so we all also from nancy pelosi, the democratic leader in the house of representatives earlier today. she came before cameras also, no news from her had as well. holding pattern here in washington. rhetoric is pretty heated on both sides. you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some...
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Nov 30, 2012
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the fiscal cliff is a 3% hit to the economy. it is a recipe for a recession and we've got a white house that is playing brinksmanship as near as i can tell and is not willing to put serious proposals out there. >> when did the republicans put a proposal out there? >> he walked out the day after the election, revenue's on the table. >> when do we see numbers? >> which numbers do you want to see? they put $800 billion on the table. the president has said no a year and half ago. they put $3.5 billion on the table in the super committee. >>> final trades next. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fif
the fiscal cliff is a 3% hit to the economy. it is a recipe for a recession and we've got a white house that is playing brinksmanship as near as i can tell and is not willing to put serious proposals out there. >> when did the republicans put a proposal out there? >> he walked out the day after the election, revenue's on the table. >> when do we see numbers? >> which numbers do you want to see? they put $800 billion on the table. the president has said no a year and half...
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Dec 7, 2012
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it is the secret sauce that's built the american economy. >> what about the fiscal cliff? you brought it up. do you think they will take us over the cliff at this point and how damaging if that happens would it be not only to entrepreneurship but to the country as a whole? >> i think it will be troubling. hopefully they won't. i know there is a lot of posturing and hopefully a lot of quiet negotiations happening and hopefully there will be a resolution that can build pore. it is important not just for the fiscal cliff. i think the country and actually the world is looking at washington saying can these guys work together in a collaborative bipartisan way to deal with fiscal issues, our entrepreneurship issues, we have to start building that bipartisan support. congress did come together, republicans and democrats, house and senate with support of the white house to pass the jobs act around access to capital for entrepreneurs so we have some example of that. hopefully that momentum will continue not just on the fiscal cliff in the coming weeks but issues like the start-up a
it is the secret sauce that's built the american economy. >> what about the fiscal cliff? you brought it up. do you think they will take us over the cliff at this point and how damaging if that happens would it be not only to entrepreneurship but to the country as a whole? >> i think it will be troubling. hopefully they won't. i know there is a lot of posturing and hopefully a lot of quiet negotiations happening and hopefully there will be a resolution that can build pore. it is...
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Dec 4, 2012
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do you expect the economy to go over the fiscal cliff? what kind of reaction might we see in the market if that were to materialize? >> well, if we saw the market sell off in a big way, i don't think anybody believes we're going to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad news, all the bickering, all the bad words on each side. you've got to love the way that this market is holding up here. doesn't mean investors need to be carefree, but overall, it looks like the market is setting up with a lot of negative sentiment out there. looks like there's a lot of opportunity for a big run higher once we get some form of resolution. i really believe we're going to get it. >> you think by year end? >> i really do. i think they want to go home for christmas. they're not going to want to not go home for christmas. you can always count on
do you expect the economy to go over the fiscal cliff? what kind of reaction might we see in the market if that were to materialize? >> well, if we saw the market sell off in a big way, i don't think anybody believes we're going to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad...
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Dec 4, 2012
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>> talking about business owners flat-out spooked about the economy, about the fiscal cliff and about whether or not there's going to be any certainty any time soon. we will explain and have the latest numbers coming up on "power lunch." i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ male announcer ] lease a 2013 e350 for $579 a month at your l mercedes-benz dealer. >>> welcome back to "power lunch," comments from jpmorgan cfo doug bronstein presenting at the goldman sachs financial conference today, jpmorgan expects low rate ounce deposits to take $400 million out of net income in 2012 and 2013. mortgage only nation volume higher in the four rt quarter c
>> talking about business owners flat-out spooked about the economy, about the fiscal cliff and about whether or not there's going to be any certainty any time soon. we will explain and have the latest numbers coming up on "power lunch." i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin...
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Nov 29, 2012
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what a ceo, a toy ceo, plans to tell the president about jobs, the economy and the fiscal cliff. >>> plus, the top tech trends coming in 2013 and how you can play them right now. find out on "power." now back to scott and more on "fast half." >> see you in 15 minutes. >>> sin to win. jon najarian crunched the performance on the numbers of sin stocks. up big since the recession. >> take a look at, for instance, cigarette stocks. starting with altria. going through phillip morris. smoke them if you've got them, folks. these are outstanding performances. up 123% for altria. 112% and 117% respectively for the other two cigarette stocks. that's not all. i mean, you know, bartender, i'll have another. take a look at the performance over the last four years of consolation brands. 131%. >> how many times did you say that last night? >> budweiser. that's what i was saying last night. 125%. and diageo 115%. i know where you're going with that i'll have another. as far as get away trades, priceline, this is one of those outstanding performers that even makes apple look sick. up 873% since '08.
what a ceo, a toy ceo, plans to tell the president about jobs, the economy and the fiscal cliff. >>> plus, the top tech trends coming in 2013 and how you can play them right now. find out on "power." now back to scott and more on "fast half." >> see you in 15 minutes. >>> sin to win. jon najarian crunched the performance on the numbers of sin stocks. up big since the recession. >> take a look at, for instance, cigarette stocks. starting with...
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Nov 30, 2012
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who is immune to the kind of volatility we're going to see or the kind of effects the fiscal cliff could have on the economy here, mark? >> honestly, we're essentially sector agnostic with we talk about managing money on a five-year duration for our clients. when you look at some of the master limited partnerships that are out there, the kinder morgans, specter energy looks like a good play. we're looking at the 4% to 5% yielders, companies that have a good track record of increasing those yields. we're sticking more with consumer staples. we're definitely tilted towards that defensive end. but we're going to stay there. as long as growth is slow, that's where we feel we can get the best risk adjusted returns for our clients. >> all right. thanks for joining us. mark, good to see you. rick, have a good weekend. gordon, have a good time at the beacon tonight. we're less than an hour from the trade month. kayla rounds up november's big winners and losers. >> hey, bill. the indices may have danced along the flat line for the entire month, but there were clear winners and losers on either si
who is immune to the kind of volatility we're going to see or the kind of effects the fiscal cliff could have on the economy here, mark? >> honestly, we're essentially sector agnostic with we talk about managing money on a five-year duration for our clients. when you look at some of the master limited partnerships that are out there, the kinder morgans, specter energy looks like a good play. we're looking at the 4% to 5% yielders, companies that have a good track record of increasing...
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about the fiscal cliff that's coming up. and the report also showed that if we go over the cliff, meaning if we just go over it in the first few days of next year, that we could have a 13% cumulative contraction in the gdp between now and 2015. and 6 million jobs lost. now, a lot of those will come from small and medium sized manufacturers who just aren't willing to take the risk, but i think you're talking to doug in a little bit and larger companies like caterpillar and doug is the incoming chair of the national association of manufacturers, companies like caterpillar rely on those supply chains. so they want to make sure that the small and medium sized manufacturers are just as healthy as the larger. >> jay, thank you. we appreciate your time this morning. >>> coming up, police arresting john mcafee. the details next. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee
about the fiscal cliff that's coming up. and the report also showed that if we go over the cliff, meaning if we just go over it in the first few days of next year, that we could have a 13% cumulative contraction in the gdp between now and 2015. and 6 million jobs lost. now, a lot of those will come from small and medium sized manufacturers who just aren't willing to take the risk, but i think you're talking to doug in a little bit and larger companies like caterpillar and doug is the incoming...
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. >>> now, litz listen to, this fiscal cliff or no fiscal cliff, your taxes will probably go up anyway. it's all because of obama. >> the economy, slam investors and triple capitalism. say no to nationalized health care system, no to blanket tax increases and that means let low. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to tr
. >>> now, litz listen to, this fiscal cliff or no fiscal cliff, your taxes will probably go up anyway. it's all because of obama. >> the economy, slam investors and triple capitalism. say no to nationalized health care system, no to blanket tax increases and that means let low. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of...
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and now to john boehner. >> -- sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at the white house. based on where we stand today, i would say two things. first, despite claims that the president supports a balanced approach, democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaign style rallies and one-sided leaks in the press are nolts the way to get things done here in washington. majority leader and i just had a meeting with the treasury secretary. it was frank and it was direct. i was hopeful we'd see a specific plan for cutting spending. we sought to find out today what the president really is willing to do. i remain hopeful that productive conversations can be had in the days ahead. but the white house has to get serious. yesterday our leadership t
and now to john boehner. >> -- sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at the white house. based on where we stand today, i would say two things. first, despite claims that the president supports a balanced approach, democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on...
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Nov 30, 2012
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cliff, about the idea that even if we don't go over the fiscal cliff, there's still a worry about what happens to the economy in 2013. so broad economic landscape. >> you want to be in some high had-grade corporate bonds. i'll tell you a group that's lagged way behind this year because of concern over taxes is your master limited partnerships. these things yield 6%, 5.5%, 6%. they're down 2% for the year. these are infrastructure stocks, as you know. that's a flow through like real estate investment trust. you want to have some of those. emerging markets. listen to this, maria. china is down again this year. it's been down four years in a row. china is down 10% plus this year. china is selling right now at eight times next year's earnings, if those earnings come true. russia is selling at six times next year's earnings. china and russia would be another if this broad picture that you're talking about. you want top own some emerging markets. master limited partnerships. high-grade bonds. >> are you worried about taxes going higher on dividends and cap gains in 2013? does that cut into t
cliff, about the idea that even if we don't go over the fiscal cliff, there's still a worry about what happens to the economy in 2013. so broad economic landscape. >> you want to be in some high had-grade corporate bonds. i'll tell you a group that's lagged way behind this year because of concern over taxes is your master limited partnerships. these things yield 6%, 5.5%, 6%. they're down 2% for the year. these are infrastructure stocks, as you know. that's a flow through like real estate...
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plus we'll hop behind the wheel of auto nation to talk sales, the economy and of course the fiscal cliff. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the hol
plus we'll hop behind the wheel of auto nation to talk sales, the economy and of course the fiscal cliff. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. two years ago, the people of bp made a...
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i think if we can get this fiscal cliff thing out of the way in the u.s., the case for the economy to expand at a 2% clip or so is pretty strong. in terms of the equity markets, we're going into the year thinking that the bias is top upside here. i think the trend that we've seen of late absent a stupidity mistake out of washington is likely to hold for the foreseeable future. >> a prediction for 2013 from you as well, gina, perhaps the one kwe can steal. >> we think we're more tempered. we think it is probably 1.6% growth but we'd agree there will probably and positive bias in the first half of the year and probably a more negative bias during the second half of the year. >> 1.6% growth, gina, stinks! that's not even growth. it's not even keeping up with inflation. that's negative real growth. >> i didn't say we were optimistic about growth. i just said there might be some support in the market. >> that's going to be an interesting back half of the year. >> when you say positivity for the market, give us some levels, if you can. how much we're going to be up next year, if that's the
i think if we can get this fiscal cliff thing out of the way in the u.s., the case for the economy to expand at a 2% clip or so is pretty strong. in terms of the equity markets, we're going into the year thinking that the bias is top upside here. i think the trend that we've seen of late absent a stupidity mistake out of washington is likely to hold for the foreseeable future. >> a prediction for 2013 from you as well, gina, perhaps the one kwe can steal. >> we think we're more...
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here he is. >> when it comes to the fiscal cliff that's threatening our economy and our jobs, the white house has wasted another week. you know, eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase in the debt limit like forever. four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion-dollar deficits for as far as the eye can see. listen. washington's got a spending problem, not a revenue problem. if the president doesn't agree with our proposal, i believe that he's got an
here he is. >> when it comes to the fiscal cliff that's threatening our economy and our jobs, the white house has wasted another week. you know, eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase in the debt limit like forever. four days ago we offered a serious proposal based on testimony of president clinton's former chief of...
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will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> welcome back. this very public negotiation on the fiscal cliff still does not seem to be closing in on a deal. the white house out in campaign style events regularly, making multiple media appearances, kle including timothy geithner right here in 25 minutes. >> but would things be done faster if it was done privately? in his latest column, jeff goldfor a compares u.s. budget talks to merger proxy battles. jeff joins us to explain about that. plus, we have bob from
will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a...
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is. >> i agree. >> and if we dive off the fiscal cliff, the economy could get much weaker. that's -- >> by the way -- >> -- millions of americans. it's a problem for barack obama. >> just to back you up, i really think the great thing is the economy is just starting to lift up a. the unemployment rate is really starting to come down. we're getting good job production. thank you so much, ladies, for coming on tonight. thanks for the sharp thinking we got tonight. >>> up next, if you can't win by the rules, change then. that's what republicans are trying to do in pennsylvania. they don't like the lerer toal college because it didn't work for them. come back for the place for politics. derate alzheimer's, you'll also care about our new offer. you get access to nurses who can help with your questions. and your loved one can get exelon patch free for 30 days. if the doctor feels it's right for them. it cannot change how the disease progresses. hospitalization and rarely death have been reported in patients who wore more than one patch at a time. the most common side effects of e
is. >> i agree. >> and if we dive off the fiscal cliff, the economy could get much weaker. that's -- >> by the way -- >> -- millions of americans. it's a problem for barack obama. >> just to back you up, i really think the great thing is the economy is just starting to lift up a. the unemployment rate is really starting to come down. we're getting good job production. thank you so much, ladies, for coming on tonight. thanks for the sharp thinking we got tonight....
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we go from party line to the front lines on the impact of the fiscal cliff's mess. fedex ceo fred smith was among the ceos who met with the president yesterday. he's been outspoken on the issue of corporate taxes as well as jobs, making headlines saying it's a myth that raising tax rates will kill jobs. let's talk with fred smith right now in a cnbc exclusive about that and more. frank, good to have you on the program. welcome back. >> thank you very much, maria. always good to be here. >> good to see you again. let's start with the fiscal cliff issue. when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then individuals who have been filing
we go from party line to the front lines on the impact of the fiscal cliff's mess. fedex ceo fred smith was among the ceos who met with the president yesterday. he's been outspoken on the issue of corporate taxes as well as jobs, making headlines saying it's a myth that raising tax rates will kill jobs. let's talk with fred smith right now in a cnbc exclusive about that and more. frank, good to have you on the program. welcome back. >> thank you very much, maria. always good to be here....
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it is more a fiscal mole hill next year than a fiscal cliff. but offsetting that is an economy which is firing on many more cylinders than it was a year ago. employment rate's coming down. bank lending rising, housing activity going up, confidence is down, debt burdens are down. in addition there is a lot of stimulus. money supply is growing rapidly. record low mortgage rates. we have the dollar down. we got gas prices falling at the pump for the holiday season. we've got inflation decelerating from where it was helping real incomes. i'm seeing a lot of evidence of china showing signs of new acceleration. we might get the emerging world doing better next year. we've certainly calmed down concerns about the eurozone. so i think there's a real case that we grow 3%, the emerging world picks up, and the valuation on equities rises -- >> even if we don't get a deal in taxes? we hear that the average family will pay $1,200 more in taxes over the year and it is going to doom the economy. it's instant recession. >> well, there's no doubt if we have com
it is more a fiscal mole hill next year than a fiscal cliff. but offsetting that is an economy which is firing on many more cylinders than it was a year ago. employment rate's coming down. bank lending rising, housing activity going up, confidence is down, debt burdens are down. in addition there is a lot of stimulus. money supply is growing rapidly. record low mortgage rates. we have the dollar down. we got gas prices falling at the pump for the holiday season. we've got inflation decelerating...
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everything you've written for 2013 is the assumption the fiscal cliff does get solved. does that mean solved by december 31st? does that incorporate the idea maybe it gets pushed down to middle 2013? that is an underlying assumption you make. what is the real basis of that? >> so the precedent of the last two years is that negotiations continue until late, mid to late december. so you go back two years ago after the 2010 elections. there was an extension of the bush tax cuts. there was decided on december 17th. a year ago in terms of the payroll tax cut that was extended on december 23rd. so three weeks from today is december 21st. if you're looking for a day that is sort of the time period. if you're going to get something that would be about the time. obviously experts, my colleagues in washington, d.c. will give more details but from a strategic perspective there is a near term and longer-term path. the economy is getting better slowly. housing is getting better. there are forecasts in terms of the cash companies will spend. they'll spend over a trillion dollars next
everything you've written for 2013 is the assumption the fiscal cliff does get solved. does that mean solved by december 31st? does that incorporate the idea maybe it gets pushed down to middle 2013? that is an underlying assumption you make. what is the real basis of that? >> so the precedent of the last two years is that negotiations continue until late, mid to late december. so you go back two years ago after the 2010 elections. there was an extension of the bush tax cuts. there was...
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right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> pretty clear apple stock is having its worst week in more than two years. let's get to bertha coombs with the details. >> tough end of the week ear. it's apple's horrible, awful week. today's decline saw shares hit a real technical weak point, the so-called death cross. that's where the 50-day moving average, t
right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to...
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going over the fiscal cliff could cause major problems for state economies. which face the biggest threat from the potential tax hikes? joining us on the phone is laura porter, managing director at the public finance department, sector head for the state ratings group which focuses on state credits across the country. and focuses on a report, laura, looking granularly at this. good morning. >> good morning. thanks for having me. >> in general, you argue that a lot of ratings on the state front will remain unchanged no matter what. why is that? >> we feel states are fundamentally very strong credits, have strong control over their revenues and spending and the vast majority have shown the ability and willingness to adjust. so we think that the biggest and immediate threat is the fiscal cliff and what that can mean for state revenues, which quickly react to changing economy. >> you make the point -- surprise to no one, you have an unusually high degree of uncertainty in this outlook and that's because -- walk us through a scenario. we go over the cliff, and we
going over the fiscal cliff could cause major problems for state economies. which face the biggest threat from the potential tax hikes? joining us on the phone is laura porter, managing director at the public finance department, sector head for the state ratings group which focuses on state credits across the country. and focuses on a report, laura, looking granularly at this. good morning. >> good morning. thanks for having me. >> in general, you argue that a lot of ratings on the...
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guest host governor rick perry will join us to talk taxes, fiscal cliff and growth in the economy. you can't afford to miss "squawk box" tomorrow starting at 6:00 a.m. eastern. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. gecko (clearing throat) thank you, mr. speaker, uh, members of congress. in celebration of over 75 years of our government employees insurance company, or geico...as most of you know members it.congre
guest host governor rick perry will join us to talk taxes, fiscal cliff and growth in the economy. you can't afford to miss "squawk box" tomorrow starting at 6:00 a.m. eastern. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your...
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but going from 8% to 11% for one or two months fiscal cliff, that sounds extreme. i think if there's absolute gridlock in washington -- and right now washington seems to be on another planet. all of us in the markets, people at home, people in the country want republicans and democrats to work together. everyone seems to want that except for republicans and democrats. if they really are as far apart as they seem at times, we could shoot ourselves in the foot. >> i think most of us wish that washington were on another planet. and that we could just take the whole group and ship them there. since we can't do that, however, i think if we do get two weeks or a month worth of argument that results in the fiscal cliff being -- that we fall off the cliff, then you are going to start seeing layoff notices and the rest. fortunately, i would say we're going to accelerate that unemployment and the job loss, unfortunately, if that happens. and that's going to result in warnings going forward from all the major industrial companies, as well. that's what i hope washington is lis
but going from 8% to 11% for one or two months fiscal cliff, that sounds extreme. i think if there's absolute gridlock in washington -- and right now washington seems to be on another planet. all of us in the markets, people at home, people in the country want republicans and democrats to work together. everyone seems to want that except for republicans and democrats. if they really are as far apart as they seem at times, we could shoot ourselves in the foot. >> i think most of us wish...
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economy in 2013? i will give you a couple of choices. wry want to do fiscal cliff. is europe still -- could it be a huge threat? have we -- have we moved far enough along there that -- with sort of dealing with it where that is not going to be the threat that we saw? >> for business in my mind, the threat is not that europe will come apart. they will hold it together. but the economy is not growing. export markets are weak. they are weak in eastern asia, too, except for china. china is going to be way down where it was. probably 7% next year. i think that -- the -- the u.s. has been a very successful exporter. these mark et cetera are going to be soft next year. i think that's going to hurt us. >> i rye to -- i mean, i'm trying to think -- it just for 2013, the biggest threat to the u.s. economy, first i figured -- the biggest threat for 2013 is the same as the biggest threat for 2014, '15, '16. not dealing with entitlements. that's what i think it is. >> did you said you took the fiscal cliff off the table. >> took that off. i'm talking about long-term, $87 trillio
economy in 2013? i will give you a couple of choices. wry want to do fiscal cliff. is europe still -- could it be a huge threat? have we -- have we moved far enough along there that -- with sort of dealing with it where that is not going to be the threat that we saw? >> for business in my mind, the threat is not that europe will come apart. they will hold it together. but the economy is not growing. export markets are weak. they are weak in eastern asia, too, except for china. china is...
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when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another week. >>reporter: he calls officials saying they are ready to go over the trip. >>shepard: democrats insist that revenue, revenue, revenue is the key. >>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects of a deal until the g.o.p. gives in on their demand for more tax money. >> what is lacking are the revenues. we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that requires companies to notif
when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another week. >>reporter: he calls officials saying they are ready to go over the trip. >>shepard: democrats insist that revenue, revenue, revenue is the key. >>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects...
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up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less than optimistic? joining me is john, and carl, senior economist for deutsche bank. gentlemen, thank you for being here. start with the treasury secretary. the man in charge of our treasury is out telling everyone that the administration he works for is a part of is perfectly prepared to go over the fiscal cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it
up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less...
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best of all, gilead, i'm calling this one immune to the fiscal cliff-induced recession. people do not stop taking life-saving medicines just because the economy slows down. alexeon, on the other hand, no. not so hot. the stock has tripled since i first got behind it it's down about 14% since i highlighted it as an anointed growth stock two months ago. that's unacceptable. alexeon is a orphan drug maker whose lead drug has been incredibly successful. however, even though alxn raised guidance, not unlike tractor supply, the stock sold off because the sales only met expectations rather than beating them given the huge run in the stock going to the quarter. alxn had to do more than just meet the expectations. they had to beat that and crush them. and this time around, it got crushed. that said, to me the market overreacted. alexia has received fda approval to use solera for new indication that could be worth $900 million in peak sales and another $2.5 billion worth of new indications that the company is working on just for this one medication. plus they have intriguing thing
best of all, gilead, i'm calling this one immune to the fiscal cliff-induced recession. people do not stop taking life-saving medicines just because the economy slows down. alexeon, on the other hand, no. not so hot. the stock has tripled since i first got behind it it's down about 14% since i highlighted it as an anointed growth stock two months ago. that's unacceptable. alexeon is a orphan drug maker whose lead drug has been incredibly successful. however, even though alxn raised guidance,...
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Dec 4, 2012
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moynihan says that while business leaders are changing their behavior ahead of the f k fiscal cliff, consumers are not. one out of every two households is a customer. that's why it's great gauge of the economy. so far american consumers are still spending away and he says that you can thank at least in part an improving housing market for that. carl? >> all right. thank you very much, becky. great stuff. thank you for sticking around. >> thank you. >> sticking with the cliff, governors are set to meet with president obama and congressional leaders. the meeting coming one day after the white house rejected a republican plan for averting the cliff. chi chief washington correspondent john harwood is outside of the white house this morning. how do business leaders change the equation? >> reporter: the president is trying to orchestrate a consensus behind his approach to deficit reduction. this is a group part of the national governors association executive committee. a diverse group. he carried three states he represents and governors include scott walker, leader of conservative governme
moynihan says that while business leaders are changing their behavior ahead of the f k fiscal cliff, consumers are not. one out of every two households is a customer. that's why it's great gauge of the economy. so far american consumers are still spending away and he says that you can thank at least in part an improving housing market for that. carl? >> all right. thank you very much, becky. great stuff. thank you for sticking around. >> thank you. >> sticking with the cliff,...
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Nov 29, 2012
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cliff for very long the economy will almost certainly go into a recession. if it didn't, the economists are going to have to revise all our models. so i think it could occur if we go very long. and if we do that, the question is who's going do that. i think the republicans get a lot to alabama. on the other hand it would also derail his second term. he wouldn't have get anything done. they both have a lot to lose. and the question is who's going to compromise and who's going to swerve first in this high stakes game of chicken. >> greg, one thing that i hear all the time from democrats is that the clinton years were really good because of the clinton tax rates. one of the things in the fiscal cliff is going back to the clinton era tax rates for everybody. now, i know there's sequestration and payroll tax. there's a lot of other things in there, but we did okay with those tax rates. why did we just assume there'd be a recession. >> let me mention a couple of things from the 1990s that are very different from today. first, there was a lot. there was an implicit
cliff for very long the economy will almost certainly go into a recession. if it didn't, the economists are going to have to revise all our models. so i think it could occur if we go very long. and if we do that, the question is who's going do that. i think the republicans get a lot to alabama. on the other hand it would also derail his second term. he wouldn't have get anything done. they both have a lot to lose. and the question is who's going to compromise and who's going to swerve first in...
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Dec 5, 2012
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we're going to talk about the fiscal cliff. if we go over it, will it really destroy the u.s. economy? we'll show you some stats to make you go -- hmm. we'll talk more about apple's slide, should microsoft's ceo steve ballmer get the boot if the surface fails. and we will introduce to you quite possibly the world's dumbest demolition crew. it involves a multi-million dollar bore chateau and really bad bulldozing. >> yikes. see you at 1:00, brian. thank you. >>> listen up wall street recruiters, a recent rash of college cheating scandals has shown academic dishonesty is unfortunately a very big problem on campus today. who are the worst offenders? tonight's premier of "faking the grade -- classroom cheaters," we'll tell you. they'll find out which students are most likely to cut corners in the battle to gain an edge. >> reporter: don mccabe and his canadian colleague collaborate on research. mccabe says in the u.s. business students cheat the most. engineering students are often near the top of the list. and so are communications and journalism students. women studied at one un
we're going to talk about the fiscal cliff. if we go over it, will it really destroy the u.s. economy? we'll show you some stats to make you go -- hmm. we'll talk more about apple's slide, should microsoft's ceo steve ballmer get the boot if the surface fails. and we will introduce to you quite possibly the world's dumbest demolition crew. it involves a multi-million dollar bore chateau and really bad bulldozing. >> yikes. see you at 1:00, brian. thank you. >>> listen up wall...
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Nov 29, 2012
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of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- the increase in the debt limit for cuts? >> are i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> thank you, mr. speaker. >> speaker boehner speaking to the press outside of the offices on capitol hill. not really yielding any information, though. the intransigence it seems on both sides continues. but it definitely continues to sound like a campaign on both sides, as well. just a couple highlights for you. the speaker saying the democrats can't seem to come to any kind of decision o
of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by...
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Nov 30, 2012
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i'm here to say obama is bluffing, there's not going to be a fiscal cliff, they will do something to stop the taxes from expiring. he doesn't want to be herbert hoover obama. i'm putting that on the table. if you take that off the table, you look at the economy, profits, the stuff, there's no lending going on, what is your outlook for the stock market? ivities i think we would be higher if we didn't have this issue. we have low interest rates, not only here, but globally the monetary policy will stay easy. whether you like it or not, it's going to stay easy for a long time. >> i would argue that it's helped. i would look at the gdp revisions and take the over side. a number of companies said they weren't spending at all and if they were getting push-outs from their customers because of fiscal cliff. >> i'm saying we reported there's a contraction. that could be good for stocks. >> if you get a resolution, then you get past that and businessless start to spend again. then the 2.7% gdp number, maybe it's higher than that. if we could get off the backs of businesses, we would get 5%, 6%
i'm here to say obama is bluffing, there's not going to be a fiscal cliff, they will do something to stop the taxes from expiring. he doesn't want to be herbert hoover obama. i'm putting that on the table. if you take that off the table, you look at the economy, profits, the stuff, there's no lending going on, what is your outlook for the stock market? ivities i think we would be higher if we didn't have this issue. we have low interest rates, not only here, but globally the monetary policy...
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Nov 29, 2012
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>> at the top of the wish list, a deal to a voice sending the economy over the fiscal cliff. >> my hope is to get this done before christmas. >> today, the president joined by middle income earners reaching out to the administration about keeping taxes low. >> if congress does nothing, every family in america will see their taxes go up at the beginning of next year. >> the white house is urging americans to use social media to push congress to act. keying in on $2000 tax increase going into affect next year for the average family of four. >> what is that again? my two? k. tweet use, my 2 k or e mail. post it on member of congress's facebook wall. do what it takes to communicate a sense of urgency. >> they may not agree on details but house speaker john boehner and house minority leader agree on one thing. failure is not on the table. >> going over fiscal cliff will hurt our economy. >> boehner said republicans are committed to a compromise. >> rinz are willing to put revenue on the table. >> so hard ball politics were left to house majority leador eric cantor complaining the white house
>> at the top of the wish list, a deal to a voice sending the economy over the fiscal cliff. >> my hope is to get this done before christmas. >> today, the president joined by middle income earners reaching out to the administration about keeping taxes low. >> if congress does nothing, every family in america will see their taxes go up at the beginning of next year. >> the white house is urging americans to use social media to push congress to act. keying in on...